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...to introduce an inflationary choke on global oil supply in a US election year....
...“The European industrial sector has an acute need for a reliable supply of critical and strategic metals, especially those with a lower carbon footprint than current imports which can support Europe’s transition...
...d this year and 1.8mn b/d in 2025....
...No mention of the B-word, then....
...The International Energy Agency also revised its estimate for growth in global demand in 2024 slightly higher to 1.3mn barrels a day, but downgraded its forecast of growth in supply to 800,000 b/d, including...
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...The IEA added that record output from the US, Brazil, Guyana and Canada would help boost global supply this year by 1.5mn b/d to a record 103.5mn b/d....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...In Russia and Saudi Arabia alone about 4mn b/d exists. That is not far from decade highs, on Citi’s data. That potential world supply will act as a cap on prices for at least the coming year....
...Shares in Australian rare earths miner Australian Strategic Materials spiked 20 per cent after the company said it had receive a conditional letter of interest from the Export-Import Bank of the United States...
...As a result, Saudi Aramco is currently producing about 9mn b/d, down from an average of 10.2mn b/d in the first three months of 2022....
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...But I went with it because a) it gave me an interesting picture to use at the top of a newsletter that is in effect about bankers and b) this “pink vegan mayo with BBQ sauce” gives me fond flashbacks to...
...The supply glut has enticed US power companies to favour imports over more expensive domestic panels as they build new solar generating complexes....
...Slowing demand comes as record supply from the US and rising output from producers like Guyana will see non-Opec supply growth of 1.2mn b/d in 2024, the IEA said....
...and 360,000 b/d in 2025....
...The IEA now expects oil demand growth to tumble from a year-on-year rate of 2.8mn b/d in the third quarter of 2023 to 1.9mn b/d in this quarter....
...15mn b/d within five years....
...it had been asked by the energy ministry to abandon a plan to increase the Kingdom’s maximum sustainable production capacity from 12mn barrels per day to 13mn b/d by 2027.The multi billion dollar investment...
...What Reland calls a “more strategic approach” to alignment will be key to delivering other parts of Labour’s growth agenda, including attracting green inward investment and convincing industry that — for...
...Let’s consider the example of a dramatic rise in prices driven by an import restriction for a mined commodity....
...on China for strategic supplies as part of an overall “de-risking strategy”....
...300,000 b/d, as the group looks to offset a stuttering global economy and rising supplies from rival producers....
...Analysts estimate Opec+ has about 6mn b/d of spare capacity it can unleash on to global markets to lower prices if they spike into the triple digits to prevent demand destruction....
...It’s got a strategic location. There’s easy access to suppliers and customers. Workers tend to be multilingual. It isn’t too expensive....
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